JACKSON – After giving preliminary approval at their previous meeting this month, the Northampton Commissioners passed two bond orders at their regular meeting here on
Earlier this year, the commissioners hired the firm
“We’re looking at a number of loans – these are bonds or loans the county has taken out over the years for various purposes,” explained
Five of Northampton County’s general obligation bonds – ranging from being issued between 2003 through 2014 – will be refinanced as well as one bond for the Garysburg Water and Sewer District, which is also controlled by the
Four out of five county bonds were for water expansion. Those include a 2003 bond with
The purpose of the Garysburg bond was for sanitary sewer. It was issued in 2000 and there is only
Of the bids received, Cole recommended a proposal from
With the new proposal, the lowered rates will be between 2.3 and 1.82 percent.
“We’re not extending the debt,” Cole emphasized, noting that some will even be paid off more quickly than originally scheduled.
The revised proposal will save the county over
Cole explained that, with final approval from the commissioners at their upcoming meeting, the next step will be to obtain approval from the
After a unanimous vote to approve a revised resolution, the Board then easily approved both bond orders, one for the county bonds and another for the Garysburg Water &
“What we’ve done tonight is save this county many dollars,” said Tyner at the